The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-11
DUN s. co.'s REVIEW.

Labor Troubles and Excessive Speculation
Mar an Otherwise Pleasing Prospect.
NEW YORK. juno 10-R- G. Dun 6 Co.'s
weekly review of trade says: But for labor
contests and excessive speculation the outlook
would be entirely satisfactory. Crop prospects
and the financial situation have both improved
during the past week. But the effect of impor-
tant strikes is felt more seriously every week.
How great the disturbance OF trade and produc-
ton which may result from single strike is
forcbly illustrated by the returns Of iron fur
naces, the Iron A &c making the weekly output,
June 1, about 1858 tons. or 81 per cent. less
than May l. while Pittsburg statistics for
warded By our correspondent make the
decrease 30,650 tons. Either state
the output, ranging from $500, 900 to $3.50, 900 in
value of weekly production. and to this must be
added the decrease IN many important branches
of manufacture which depend for material upon
furnaces now idle. In spite of the great decline
in production, prices of iron have been weaker
during the past week. heavy sales OF Southern
iron having been made in Eastern markets. Tho
stove business revives. the lockout of molders
having terminated, but the nail market is de-
moraized by overproduction The demand for
bar iron is better, but prices are depressed by
Western competition. and the Offering Of foreign
rails at low figures checks the demand near sea-
ports.
Wheat speculation seems weaker though
prices after rising to nearly ST. for No red,
have not quite declined to last weeks level.
Crop reports from all directions are favorable,
and the accumulation of $500 cars about Chica-
go, still loaded, because wheat room is scarce in
elevators gives point to the observation that a
great quantity of wheat seems still to be left in
farmers hands. But exports this month bid fair
to fall below those of last June. In that case the
surplus to be carried July l will probably
exceed 40 o06, 600 Blu in addition to the
minimum always held Chicago
change on New York. still 40c to SOC discount,
shows that spectators preventing the nat
ural movement of money eastward at this
son. Money is reported in good supply at all
points, and collections everywhere good or fair,
with improvements in some localities. South
ern reports show natural dizziness in trade, but
confidence in early and prosperous fall bust
ness. From Northwestern points great activity
is every where reported, with especial mention
of the stimulating influence of rapid railway
building.
The stock market has shown weakness, but
not the appearance of general liquidation, and
reported gains in railroad earnings averaging
over Is per cent for May thus far, sustain the
confidence of holders. A fall in foreign ex-
changes. Notwithstanding the decline in mer-
chandise EXPORTS, indicates continued invest
ment of foreign capital in this country.
The business failures during the last seven
days number, for the United States. lao; for
Canada, SO; total. 173, against $50 last week.
and 209 for the corresponding week of last year
In the Eastern and Middle States the failures
are exceptionally light. In the other sections
about the average number reported but in
Canada there is a considerable increase, arising
mostly in the maritime provinces.